Report: Minneapolis Pays Significantly More In Taxes Than It Receives In State Aid
CBS Minnesota
2/25/2021
Syndicated Local – WCCO | CBS Minnesota
MINNEAPOLIS (WCCO) — A new report shows that businesses and residents in Minneapolis pay significantly more in taxes to the state than the city receives back in aid.
The report released Thursday from the Minneapolis Regional Chamber found that in 2017 the city paid out $1.97 billion in taxes while receiving just $543 million in state aid — a ratio of 3.5 to 1.
“Minnesota has an interconnected economy, where all regions contribute to and support the success of one another,” said Jonathan Weinhagen, the president and CEO of the Minneapolis Regional Chamber, in a statement. “However, the data in this report makes it clear that, from a revenue perspective, those contributions are not equivalent.”